Saudi Aramco Is One Of The Largest Companies In The Global Crude Oil And Natural Gas Market
Saudi Aramco, officially the Saudi Arabian Oil Company, is a Saudi Arabian national petroleum and natural gas company based in Dhahran, Saudi Arabia. It is one of the largest companies in the world by revenue, and according to few news sources, the most profitable company in the world.
The top five companies covered are Saudi Aramco, Rosneft, Kuwait Petroleum Corporation, ADNOC and Iraq Ministry of Oil. Saudi Aramco was the largest competitor in the crude oil and natural gas extraction market in 2017.
The crude oil and natural gas extraction industry comprises establishments engaged in crude petroleum and natural gas extraction and natural gas liquid extraction.
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The global crude oil and natural gas market was valued at around $3 trillion in 2017. Asia Pacific was the largest region in the crude oil & natural gas market in 2017, accounting for nearly 35% market share. The USA was the largest country in the market in 2017, accounting for nearly 20% market share.
The countries covered in the report are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
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Crude oil and natural gas extraction companies around the world are investing heavily in digital oilfield technology to enhance crude oil and natural gas production. Digital oil fields integrate advanced software, hardware, and data analysis techniques to collect real-time data from the oilfield. They consist of visualization, product surveillance, integrated decision making, and remote communication systems. Digital technologies in oil fields include high-performance drill bits, advanced electrical submersible pumps, and 3D seismic imaging and reservoir modelling. Oilfields digitization facilitates efficient utilization of human resources and thus optimizes the profitability of oil production.
The oil and gas market, of which the crude oil and natural gas market is a segment, includes sales of oil and gas by entities (organizations, sole traders or partnerships) that undertake the exploration for, extraction, drilling, and refining, of oil and gas and some of its derivatives. This market does not include petrochemicals.
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The crude oil and natural gas market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast growth by geography. It places the market within the context of the wider oil and gas market and compares it with other markets.
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